Analyst Sees Likely XM/Sirius Approval
The merger between XM and Sirius Satellite will probably gain final approval- but if it doesn’t, Sirius is much more equipped for success than XM. That’s according to a report by a Barrington Research analyst, as quoted by industry Web site Radio Ink.
“We continue to believe that the FCC will likely approve the merger,” analyst Jim Goss wrote, although he did not predict a timetable for such an approval. He also described Sirius as more likely than XM “to achieve profitability in a shorter time frame with relatively less downside risk.”
Meanwhile, a U.S. senator on Friday called for the merger to be blocked. Sen. Byron Dorgan, a Democrat from North Dakota who is on the Senate Commerce Committee, wrote to the FCC and asked that they reject the deal, because it would lead to higher prices, Reuters reported.